RSM McGladrey Manufacturing & Wholesale Distribution Survey Yields Enlightening Results
On July 9, RSM McGladrey released its third annual Manufacturing & Wholesale Distribution Survey of executives across the U.S. More than 960 executives – representing 911 companies – responded to questions on current business conditions, growth strategies, innovation, cost management, technology initiatives, operations, and globalization.
RSM McGladrey's 2008 survey results in many ways mirror results from our Chamber's 2008 Manufacturing Competitiveness Survey, a poll of 300 NC manufacturing CEOs. For example, both surveys show that manufacturers are less optimistic than they were one and two years ago, which is no surprise considering current economic conditions. Both surveys also show a continued need for skilled labor among manufacturers.
The North Carolina Chamber, the state's official manufacturing association (state affiliate of NAM), is committed to advancing the priorities of NC manufacturers in the seventh largest manufacturing state in America. We have assembled a Manufacturing Council to guide our advocacy work, hosted two successful Manufacturing Summits in the Triad (2007 & 2008) and published preliminary results from a major Chamber project undertaken to reveal the economic impact and growth potential of manufacturing in our state (see "What North Carolina Makes, Makes North Carolina on the left-hand side of this homepage).
Highlights from the RSM McGladrey survey:
> 80% of companies expect cost increases exceeding 6% in energy, raw materials, operating labor, freight and benefits.
> Companies with foreign operations are hiring U.S. workers at nearly twice the rate of their domestic-only counterparts.
> Respondents moving production or services offshore since 2007 have declined 20%.
> Companies that indicated they are pursuing a global strategy (45%) report a 4% higher gross margin than those with no global strategy.
> 46% of businesses have adopted at least one "green" initiative.
> More than 75% of respondents do not take advantage of any government programs.
Press Release
Survey
2nd Annual Manufacturing Summit Highlights
Industry's Economic Impact, Growth Potential
At the Grandover Resort in Greensboro on June 10th our Chamber hosted 300 manufacturers, who gained insight and information from state and national experts on issues they told us were most important to them. The Summit focused on evolving North Carolina’s business climate to provide the environment manufacturers need to compete globally in the future.
At this year’s Summit, our Chamber unveiled a report that quantified the true impact of manufacturing on North Carolina’s economy, as well as its growth potential for the future. Guests also heard from nationally recognized economists, state education and business leaders and gubernatorial candidates Bev Perdue and Pat McCrory, who shared their thoughts about what they would do to help North Carolina manufacturers succeed if elected Governor. Lt. Gov. Perdue’s remarks centered on lowering the state’s dropout rate and a commitment to listen to manufacturers and act on their concerns. Mayor McCrory’s comments focused on making sure students who graduate from our schools are prepared for the jobs our state has and wants, improving and increasing vocational or technical education in our community colleges and addressing burdensome and contradictory regulation. North Carolina Drops Again
in State Legal Climate Rankings
The 2008 State Liability Systems Ranking Study has been released by the U.S. Chamber and North Carolina has dropped in the national ranking for the second year in a row. In 2007 North Carolina was ranked No.16 among states, down from No.10 in 2006. Now in 2008, North Carolina ranks No.21, dropping an additional 5 spots. Click here to read more.
NC Ranked at Top Again by
Site Selection Magazine
NC Ranked No. 40 for the 3rd year in a row in Tax Foundation's "2008 States Business Tax Climate Index."
Click here to see the full report
NC Ranked No. 26 on the "2007 State New Economy Index."
Click here to see the full report
NC Ranked No. 31 in the Milken Institute "2007-Cost-of-Doing Business Index."
Click here to see the full report
NC Ranked No. 39 on the "2007 Small Business Survival Index."
Click here to see the full report
Chamber’s Annual Meeting Centered
On “Shaping North Carolina’s Future”
Greensboro, NC – The theme for the North Carolina Chamber’s 66th Annual Meeting this year was “Shaping North Carolina’s Future.” Chamber leaders drove home the point to nearly 1,000 guests that there are so many issues at the forefront of the public dialogue critical to our state’s business climate and quality of life, North Carolina businesses must be engaged in shaping our state’s future. The North Carolina Chamber has transformed itself to be the enabler for an organized business community to proactively drive positive change to ensure a prosperous future for all North Carolinians. Click here to read more.
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